Tag Archive: newslettersent

Gold Price Surges Above Key 200 Day Moving Average $1270 Level

2017-04-15

by

2017-04-15

Initial target for gold
Gold price breaks above key 200-day moving average. Gold hits 5-month high on back of investor nervousness. Safe haven has 10% gains in 2017 after 9% gains in 2016. Gold options signal more gains as ETF buying increases. Geopolitical uncertainty over North Korea & Middle East. Tensions high -World awaits US move & Russia response.

Read More »

Euro’s Record Losing Streak Against the Yen

2017-04-15

by

2017-04-15

Euro/Yen
The euro has fallen for 11 consecutive sessions against the yen. Interest rates, US and German in particular, seem to be the main driver. Technicals are stretched, but have not signaled a reversal yet.

Read More »

Cool Video: Making Sense of the New Administration

2017-04-15

by

2017-04-15

I was on Bloomberg TV earlier today, chatting with David Gura about how to try to make sense of new Trump Administration. I suggest that the decision-making style and practical concerns have created two wing to the Administration. There is a populist-nationalist wing that is home to America First ideas.

Read More »

Optimal Lunacy

2017-04-15

by

2017-04-15

Federal Funds Rate 2010-2018
In June 2012, Janet Yellen, then the Vice Chairman of the Federal Reserve, addressed an audience in Boston with what for the time seemed like a radical departure. It was the latest in a string of them, for conditions throughout the “recovery” period never did quite seem to hit the recovery stride. Because of that, there was constant stream of trial balloons suggesting how the Federal Reserve might try to overcome this economic inertia. At that...

Read More »

Swiss federal tribunal refuses to help French tax authorities

2017-04-15

by

2017-04-15

The French tax authorities will not get Swiss help to investigate tax payers identified in data taken by Hervé Falciani from HSBC private bank in Geneva. HSBC, owner of the private bank in Geneva, which became part of HSBC in 1999 when it was acquired from Republic National Bank, a group run by Lebanese-born financier Edmond Safra, described the data taken from the bank in 2008, as stolen, reported the BBC.

Read More »

FX Daily, April 14: Holiday Markets Remain on Edge

2017-04-14

by

2017-04-14

The holiday-induced calm in the capital markets conceals a high degree of anxiety. The investment climate has been challenged by heightened geopolitical risk and unusual complaints about the US dollar's strength from the sitting US President. While sending an "armada" toward the Korean peninsula, the US ordered a missile strike against Syria in retaliation for the use of chemical weapons and dropped the largest bomb in the world on Afghanistan.

Read More »

Bank of England Rigging LIBOR – Gold Market Too?

2017-04-14

by

2017-04-14

Bank of England implicated in LIBOR scandal by BBC. “We’ve had some very serious pressure from the UK government and the Bank of England about pushing our Libors lower.” “This goes much much higher than me”- UBS’ Tom Hayes. Libor distraction as all markets are manipulated today. Central bank’s “rigging” bond markets and likely gold.

Read More »

Life Expectancy Indicates A Nation’s Overall Well Being – So Why Is America’s Dropping?

2017-04-14

by

2017-04-14

‘Exceptional’ America is seriously lagging behind in global life expectancy… Via: MesoTreatmentCenters.org Some additional details… Life Expectancy Indicates a Country’s Overall Well Being—So Why Is Ours Dropping? The last time U.S. life expectancy declined at birth 1992-1993: 75.8 to 75.5 years Resulting from high death rates from AIDS, flu epidemic, homicide, and accidental deaths After … Continue reading »

Read More »

Trade Notes: China and Prospects for a New Executive Order

2017-04-14

by

2017-04-14

China's trade concessions seem modest, but little discussion of US concessions. Reports suggest Trump is set to sign a new executive order to investigate trade practices in steel, aluminum, and maybe household appliances. Trade imbalances and floating currencies are not mutually exclusive.

Read More »

Millennials Are Abandoning the Postwar Engines of Growth: Suburbs and Autos

2017-04-14

by

2017-04-14

U.S. Retail Stores 2000-2017
Where's the growth going to come from as the dominant generation makes less, borrows less, spends less, saves more and turns away from long commutes, malls and suburban living and abandons the worship of private vehicles?

Read More »

Swiss Producer and Import Price Index in March 2017: +1.3 YoY, +0.1 MoM

2017-04-13

by

2017-04-13

Switzerland Producer Price Index (PPI) YoY March 2017
The Producer and Import Price Index rose in March 2017 by 0.1% compared with the previous month, reaching 100.3 points (base December 2015 = 100). The slight rise is due in particular to higher prices for scrap. Compared with March 2016, the price level of the whole range of domestic and imported products rose by 1.3%. These are some of the findings from the Federal Statistical Office.

Read More »

FX Daily, April 13: Greenback Stabilizes After Trump Induced Slide

2017-04-13

by

2017-04-13

The US dollar slid after US President Trump complained about its strength. The sell-off extended into early Asian activity, before stabilizing. It is mixed in late morning European turnover, which is already lightening up due to the extended Easter holiday.

Read More »

Gold – An Overview of Macroeconomic Price Drivers

2017-04-13

by

2017-04-13

stock-to-flow ratios of gold and silver compared
Fundamental Analysis of Gold. As we often point out in these pages, even though gold is currently not the generally used medium of exchange, its monetary characteristics continue to be the main basis for its valuation. Thus, analysis of the gold market requires a different approach from that employed in the analysis of industrial commodities (or more generally, goods that are primarily bought and sold for their use value).

Read More »

Who’s Playing The Long Game–and What’s Their Game Plan?

2017-04-13

by

2017-04-13

S-curve of Rapid Expansion
When we speak of The Long Game, we speak of national/alliance policies that continue on regardless of what political party or individual is in office. The Long Game is always about the basics of national survival: control of and access to resources, and jockeying to diminish the power and influence of potential adversaries while strengthening one's own power and influence.

Read More »

The Cost of a Trump Presidency

2017-04-13

by

2017-04-13

Syrian Bombing
Last Thursday’s wanton attack on a Syrian air field by the US and its bellicose actions toward North Korea have brought the real cost of candidate Trump’s landslide victory last November to the forefront. Unlike most laymen, accountants, and financial analysts, economists look at cost differently.

Read More »

Swiss Franc Exchange Rate Index

2017-04-12

by

2017-04-12

Nominal and real effective exchange rate indices of Swiss Franc
The Swiss National Bank has updated its exchange rate indices. In an SNB Economic Studies paper, Robert Müller describes how. The upshot is that the SNB considers the Swiss Franc slightly less overvalued than before.

Read More »

Swiss chef wins world’s best restaurant award

2017-04-12

by

2017-04-12

A Swiss chef from Aargau came first in this year’s ranking of the world’s 50 best restaurants. Daniel Humm, co-owner of the restaurant Eleven Madison Park, comes from Strengelbach in Switzerland, and earned his first Michelin star at 24. In 2003, he moved to the United States to become a chef at Campton Place in San Francisco. Three years later, he moved to New York to Eleven Madison Park.

Read More »

FX Daily, April 12: Investors Catch Breath, Markets Stabilize

2017-04-12

by

2017-04-12

Markets are calmer today. The significant movers yesterday have stabilized. The dollar has been unable to resurface above JPY110, but after plumbing to new lows near JPY109.35 in Asia, the dollar has recovered back levels since in North America late yesterday. The decline in the US 10-year yield was also initially extended in Asia before stabilizing and returning to levels seen in the US afternoon.

Read More »

The Global Burden

2017-04-12

by

2017-04-12

Germany 2-year Bund Yield 2009-2017
Bundesrepublik Deutscheland Finanzagentur GmbH (German Finance Agency) was created on September 19, 2000, in order to manage the German government’s short run liquidity needs. GFA took over the task after three separate agencies (Federal Ministry of Finance, Federal Securities Administration, and Deutsche Bundesbank) had previously shared responsibility for it.

Read More »

FOMC Minutes Suggest Balance Sheet May Begin Shrinking This Year

2017-04-12

by

2017-04-12

FOMC minutes increased likelihood that Fed will begin reducing its balance sheet late this year. There does not seem to be a consensus on other issues. The strength of the ADP report contrasts with softness seen in the ISM and PMI non-manufacturing surveys.

Read More »